CDS Crypto News Breaking Crypto News – The Future of Bitcoin ETFs: Reasons Why June Bitcoin ETFs Outperform May
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Breaking Crypto News – The Future of Bitcoin ETFs: Reasons Why June Bitcoin ETFs Outperform May

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Breaking Crypto News - The Future of Bitcoin ETFs: Reasons Why June Bitcoin ETFs Outperform May

Breaking Crypto News – The Future of Bitcoin ETFs: June vs. May

Breaking Crypto News – In comparison to the previous month, June provided United States spot Bitcoin ETFs with a significant boost. The crypto ETFs bought Bitcoin in just the first week of June, which is almost equal to the quantity of Bitcoin needed for two months of mining.

Specifically, between June 3 and June 7, the eleven spot Bitcoin ETFs approved by the US Securities and Exchange Commission (SEC) purchased 25,729 Bitcoin. The purchase price was $1.83 billion. Data from HODL15Capital indicates that roughly 3,150 Bitcoin were mined during that period, making the acquisition eight times larger.

Bitcoin Rallied Last Week, Almost As High As In March

Only 29,592 BTC were acquired by spot Bitcoin ETFs for the entire month of May, according to the HODL15Capital data count. It is clear that these spot Bitcoin ETFs had a difficult time in May, based on the numbers recorded during the first full trading week in June. Noteworthy is the fact that this past week was the biggest buying week since the middle of March when the price of Bitcoin experienced a sharp increase and reached a new all-time high (ATH) of almost $73,000.

Gold ETFs have been around for the last 20 years, but as of five months ago, US spot Bitcoin ETFs held 60% of their AUM. Nate Geraci, President of ETF Store, highlighted this rise on June 9 in an X post. The price spike of Bitcoin that occurred last week may have been caused by ETFs purchasing more of the leading cryptocurrencies.

Bitcoin Rallied Last Week, Almost As High As In March
Breaking Crypto News - The Future of Bitcoin ETFs: Reasons Why June Bitcoin ETFs Outperform May 1

FAQ

What is the Total Supply of Bitcoin Mining?

Around 2140, the last Bitcoin is expected to be mined, marking the achievement of the 21 million bitcoin maximum supply.

What is Bitcoin Mining?

Mining Bitcoins is the process of producing new ones by figuring out incredibly difficult arithmetic puzzles that validate Bitcoin transactions. A fixed quantity of Bitcoin is given to the miner upon successful mining.

How High Can BTC Rise?

Experts in the cryptocurrency industry are confident that, should it overcome the ATH, BTC may reach $83,000 or perhaps $100,000 before the year is out.

For more up-to-date crypto news, you can follow Crypto Data Space.

Breaking Crypto News - The Future of Bitcoin ETFs: Reasons Why June Bitcoin ETFs Outperform May
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lectertodd

Lectertodd is 25 years old. She graduated from Çankaya University, Department of Psychology, in 2021. She actively works as a writer, translator, and editor for various websites. Moreover, she loves reading, researching, and learning new things.

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